Rupee is trading at Rs 28,910 per 10 grams due to profit- booking by speculators amid a weak global trend.
After gaining about 13 per cent in 2017 till date, the prices of gold is expected to witness some correction in the coming months due to the likelihood of an interest rate hike by the US Federal Reserve in December.
New Delhi: Gold prices declined by Rs 57 to Rs 28,910 per 10 grams in futures trade on Thursday due to profit- booking by speculators amid a weak global trend.
Gold for delivery in far-month February fell Rs 57, or 0.20 per cent, to Rs 28,910 per 10 grams, in a business turnover of 178 lots at the Multi Commodity Exchange.
Analysts said the fall in gold futures was in tune with a weak trend in precious metals overseas.
Gold prices fell 0.02 per cent to USD 1,262.50 an ounce in Singapore on Thursday.
( Source : PTI )
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